Product-sharing is a widespread and growing trend across all industries in the current economy, allowing consumers to use and return items, making a financial investment much lower than the actual purchase price.
CutterShare Inc. is following suit. The new business entity, launched in December 2017, offers shops the chance to rent shaper cutters for up to three months for a fraction of the purchase price.
The shaper cutters are engineered by tooling manufacturer Rangate, the parent company to CutterShare. There are hundreds of cutters in stock in ready-to-ship boxes, according to the company.
CutterShare founder Greg Godbout, also principal of Rangate, said he and his team have been developing the concept for the past two years, focusing on making the cutters available for small- to medium-sized shops.
“There’s a dilemma in the woodworking industry where people understand the value of high performance engineered tools and sometimes their budget doesn’t allow for them to use those tools in projects because they might use them once but rarely ever again. So the level of investment doesn’t match the return they’re going to get,” says Godbout.
“We solved that problem by making it easy for people to get shaper cutter tools from us for up to three months and send them back when they’re done, and someone else gets to use that tool.”
There are three pricing tiers, which start at $95 per month. Offerings can be secured online through www.cuttershare.com, where visitors can decide what tools to borrow, interact with other members and share photos of their work.
This article originally appeared in the February 2018 issue.